KUALA LUMPUR: Malaysia is considering selling stakes in energy giant Petronas to states where the company’s oil and gas fields are, Prime Minister Tun Dr Mahathir Mohamad told Reuters on Tuesday, in a bid to raise funds for the debt-laden government. Such a move may also give states such as Sarawak and Sabah a say in the running of Petronas, the world’s third-largest exporter of liquefied natural gas. Dr Mahathir said the government could also cut stakes in smaller listed or unlisted units of Petronas. The company’s main listed units are petrochemicals maker Petronas Chemicals Group, retail arm Petronas Dagangan and gas infrastructure and utilities arm Petronas Gas. On Monday, Petronas said it has completed block trades of its shares in Petronas Dagangan, Petronas Gas and Misc Berhad.

Source: New Strait Times December 10, 2019 08:48 UTC